Nexon today announced record high revenues for its fourth quarter and full-year financial results, showing that the online game publisher's efforts to expand its mobile business are paying off.
Overall, Nexon's fourth quarter revenues were up 35% to ¥66.4 billion. The company posted a net loss of ¥29.8 billion, but attributed it to a deferred tax liability and foreign exchange losses.
For the full year, revenues were up 18% to ¥293 billion, while net income was down 51% to ¥56.2 billion.
Interestingly, the company's key drivers shifted over the course of the year.
For example, revenues from the Korean market were up almost 84% for the year and made up 56% of the company's entire business, compared to just 36% in 2019.
At the same time, the Chinese market shrank significantly for Nexon, with revenues down 16% in 2020 and at their lowest mark since 2016.
For 2020, mobile made up 33% of Nexon's revenue, up from 24% the year before and an all-time high for the company.
The degree to which the company relies on its biggest brands has also changed.
With more than $15 billion in lifetime gross revenues, Dungeon&Fighter has long been one of Nexon's biggest franchises, contributing more than half of its revenues as recently as 2018. However, Nexon's other franchises have grown and MapleStory enjoyed a resurgence in 2020, putting Dungeon & Fighter's contribution closer to one-quarter of revenues in 2020.
In 2020, MapleStory saw revenues jump 98% in Korea year-over-year and 134% in North America and Europe. The game has been running since 2003, and lifetime revenues have surpassed $3 billion.